Parish Endowment Fund

History

 

In 2001, a forward thinking group of parishioners along with the parish pastor, Fr. John Nentwick, and school principal, Sr. Marcella Houdek, HM, gathered together and made the bold decision to establish the Our Lady of Peace Endowment Fund. Despite the many, constant needs of both the parish and the school, this group of people realized that it was necessary to set money aside for the future stability, vitality and economic viability of the parish and school. In 2002, the Our Lady of Peace Endowment Fund was established in cooperation with the Roman Catholic Diocese of Youngstown Foundation and, in 2010, was renamed the Christ the Servant Endowment Fund in recognition of the merger or Our Lady of Peace Parish and St. Paul’s Parish

 

Purpose

 

The Endowment Committee, under the guidance and supervision of the Finance Council, ensures the proper investment and disbursement of these funds. In time, the Fund will provide grants to assist with church and school needs, helping parishioners keep their faith alive and community strong through good times and bad. By building up a large principal amount in the Endowment, the interest earned from the principal can be used for supplementing tuition for the school and providing funds for maintenance and other matters for the church.

 

Making a Gift to the Endowment Fund

 

What Can I Give? The simplest method is a direct gift of money, real estate, or securities.  Another method is revising your will, trust and/or estate plan to name the Endowment Fund as a recipient of a percentage of your estate.  Other ways to give to the Endowment Fund include lifetime gifts of appreciated property, life insurance, charitable gift annuities, and charitable trusts. If you are considering including the Endowment Fund as part of you estate plan, please visit with your tax or legal advisor your options for donation.  You may also contact the parish office to schedule an appointment with a parish representative to discuss your options and your estate plan.

 

Types of Gifts

 

General Gifts. Donations and contributions of any amount are always welcome and can be made to the Christ the Servant Parish Endowment Fund by sending your donation to the parish office or by placing it in weekly offertory clearly marked – Attn: Endowment Committee.

 

Memorial Gifts. Remembering a deceased loved one with a gift to the Endowment Fund is a wonderful way to make a last. A perpetual gift to the parish and/or school that meant so much to the departed is a wonderful tribute. Memorials can be made to the Endowment Fund generally or to one of the restricted funds listed below.

 

Donor Designated Gifts. A minimum commitment of $10,000 – payable over three (3) years – is necessary to create a Donor Designated Fund within the Endowment. A Donor Designated Fund can be created within the Endowment Fund honoring or memorializing an individual or family or organization. It is named by the creator and will distribute income annually to the favorite cause of the donor at Christ the Servant Parish as designated by the donor. The donor is also able to establish the intended purpose of the donation and the restrictions for the issuance of the income generated from the gift.

 

Gifts to an Existing Fund. Within the Endowment Fund, several restricted funds exist which allow for donors to the Endowment to restrict their gift to a more narrow intended purpose. The existing funds are described below.

 

Restricted Funds

 

The restricted funds presently in existence within the Christ the Servant Parish Endowment Fund are:

 

† Christ the Servant Parish Fund

This Fund is intended to provide income to the general parish budget for the purpose of being used as needed and as determined by the Our Lady of Peace Finance Council. Unrestricted gifts will be placed in this fund.

 

† Our Lady of Peace School and Center for Early Learning Fund

 

This Fund is intended to provide income to the general School and Early Learning Center budget for the purpose of being used for the sole benefit of the School and Center for Early Learning as needed and as determined by the Christ the Servant Parish Finance Council.

 

 

† Our Lady of Peace Legacy Fund

 

This Fund was created by parishioners of Our Lady of Peace Catholic Church in Canton to commemorate the merging of Our Lady of Peace and St. Paul’s in 2010.

 

† St. Paul’s Legacy Fund

 

This Fund was created by past and current parishioners of St. Paul Catholic Church in Canton to commemorate the merging of Our Lady of Peace and St. Paul- Canton in 2010. From its establishment in 1907 until 2010, St. Paul Catholic Church in Canton served the Catholic population of northeast Canton with great pride. It is in that same tradition of service that the St. Paul’s Legacy Fund was established for the benefit of the parish.

 

† Parishioner Tuition Assistance Fund

 

This Fund is intended to provide Catholic education tuition assitances to Christ the Servant parishioners and parish families who would otherwise not be able to attend Our Lady of Peace School.

 

"With one Heart, Have Faith in Me" Adopt-A-Student Program Information

 

† Music Enhancement Fund

 

This Fund is intended to provide income to Christ the Servant Parish for the sole purpose of enhancing the liturgical music at Christ the Servant.

 

† Parish and School Capital Improvement Fund

 

This Fund is intended to provide income to the general parish budget for the sole purpose of being used as needed and as determined by the Christ the Servant Parish Finance Council for capital improvements, expenditures and additions to the Christ the Servant Parish campus.

 

Important Estate Planning Information

 

If you are considering including the Endowment Fund, Christ the Servant Parish and/or Our Lady of Peace Catholic School as part of you estate plan, please visit with your tax or legal advisor to discuss your options for donation.  You may also contact the parish office to schedule an appointment with a parish representative to discuss your options and your estate plan. 

 

For more information regarding planned giving, the Endowment Fund or donating to the parish generally, please contact the parish office at 330.492.0757 to make an appointment to speak with a parish representative about your intentions and/or your options. You can also contact the Diocese of Youngstown Office of Development and Stewardship at (330) 744-8451 (ext. 325) or via email at patpal@cboss.com. This diocesan office works in cooperation with Christ the Servant Parish and can serve as an invaluable resource to our parishioners as they explore their options.

 

Endowment Brochure 

 

Endowment Letter

Christ the Servant Parish
833 - 39th Street NW
Canton, Ohio 44709